US Published National Debt: $28T. The Truth: $146T. Each Taxpayer's Share: $951k
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US Published National Debt: $28T. The Truth: $146T. Each Taxpayer's Share: $951k
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Re: US Published National Debt: $28T. The Truth: $146T. Each Taxpayer's Share: $951k
#2Here's an interesting article about how much the total US is worth.
https://finance.yahoo.com/news/much-entire-united-states-ame....
It's interesting about how much is owned by foreign corporations and other entities.
basically we slowing turned our entire workforce into indentured servants to foreign "investors"
Re: US Published National Debt: $28T. The Truth: $146T. Each Taxpayer's Share: $951k
#3This is more a discussion of semantics than about the amount itself.
The way I read the statistics is that the current debt is $28T of money that is already spent while the quoted debt of $146T is the amount of money needed to be spent to fill full current promises and expenses.
It's interesting that since the USA got off the gold standard in 1971[1], and thereby all countries that had a currency backed by dollars, the average household income has risen 5x but the price of goods like a house have gone up 10x. This became possible because all for a sudden money was not backed by gold anymore, but could simply be printed when needed. This created huge money supply inflation [2].
Everything is getting too expensive, and the only reason we don't feel this too much just yet, is because often times cheaper alternatives where available.
My parents are in their 70's and they still have furniture that was (second hand) given to them when they got married. Can you imagine an piece of IKEA furniture being used daily and lasting for >40 years? My point about "cheaper alternatives" exactly...
[1] https://mises.org/wire/today-1971-president-nixon-closes-gol...
Re: US Published National Debt: $28T. The Truth: $146T. Each Taxpayer's Share: $951k
#4Here's an interesting article about how much the total US is worth. https://finance.yahoo.com/news/much-entire-united-states-ame... . It's interesting about how much is owned by foreign corporations and other entities. basically we slowing turned our entire workforce into indentured servants to foreign "investors"
There is this old joke that if you owe the bank 10 thousand dollars, it's your problem. But if you owe the bank 10 million dollars, then it's the bank's problem.
Re: US Published National Debt: $28T. The Truth: $146T. Each Taxpayer's Share: $951k
#5I remember when I was a kid and the number was 4T going soon to 5 and it was like actually something democrats and republicans wanted to tackle.
What the fuck did we do?
Re: US Published National Debt: $28T. The Truth: $146T. Each Taxpayer's Share: $951k
#6The US National Debt being viewed like a bad loan is a load of BS - that's a sum invested and leveraged against the projected continued growth of the country and, honestly, nobody on earth has the ability to forcefully collect from the US government.
Re: US Published National Debt: $28T. The Truth: $146T. Each Taxpayer's Share: $951k
#7This is more a discussion of semantics than about the amount itself. The way I read the statistics is that the current debt is $28T of money that is already spent while the quoted debt of $146T is the amount of money needed to be spent to fill full current promises and expenses . It's interesting that since the USA got off the gold standard in 1971[1], and thereby all countries that had a currency backed by dollars,…
this is a good point. Everybody keep saying that US had a small inflation in the last 2 decades. Yes, prices of eggs/milk maybe didn't go up to0 much. But what about prices of child care, education, housing, health care, retirement. Yes all these have many factors behind their cost rise, but money printing just can't be ignored here.
Re: US Published National Debt: $28T. The Truth: $146T. Each Taxpayer's Share: $951k
#8Here's an interesting article about how much the total US is worth. https://finance.yahoo.com/news/much-entire-united-states-ame... . It's interesting about how much is owned by foreign corporations and other entities. basically we slowing turned our entire workforce into indentured servants to foreign "investors"
What would be more interesting if this was done for all countries of the world. The web of connectivity is quite fascinating.
Re: US Published National Debt: $28T. The Truth: $146T. Each Taxpayer's Share: $951k
#9These numbers don't include state debts and state pension fund liabilities.
Re: US Published National Debt: $28T. The Truth: $146T. Each Taxpayer's Share: $951k
#10This is more a discussion of semantics than about the amount itself. The way I read the statistics is that the current debt is $28T of money that is already spent while the quoted debt of $146T is the amount of money needed to be spent to fill full current promises and expenses . It's interesting that since the USA got off the gold standard in 1971[1], and thereby all countries that had a currency backed by dollars,…
> My parents are in their 70's and they still have furniture that was (second hand) given to them when they got married. Can you imagine an piece of IKEA furniture being used daily and lasting for >40 years?
Two answers:
1) Yes. Very, very easily. For at least some IKEA furniture. 2) I somehow doubt that second hand furniture was from the 'IKEA of that day'.